Crypto market daily report – July 26, 2018

The cryptocurrency markets continued their positive trend in the past 24 hours with most of the Top 10 coins showing good gains, in particular Stellar Lumens which was up by at least 15% over the past 24 hours to reach a two-month high of $0.345. Bitcoin effected a slight retracement where the price dropped by around 2% to below the $8,100 level but it regained momentum in the past hours to trade close to the $8,300 level. Constant speculation about ETF’s has perhaps stalled the momentum that was seen on Tuesday.

Bitcoin Cash also experienced a slight retracement on Wednesday when the price dropped to the low $800’s but it eventually recovered ground late in the evening and on Thursday morning to trade at around the $850 level – an increase of 4%. Ethereum was also up by a minimal 2% to the $480 level and was appearing to make a push towards the $500 level in the coming hours. Ripple remained mired in the $0.46-0.47 levels with very little movement either way and there does not seem to be much momentum for an upward push. Litecoin was relatively flat at the $87 level with turnover also quite low for the coin.

Apart from Stellar which mooned to the $0.34 level other coins with smaller market caps appeared rather sluggish. NEO was up by around 2% to the $35 level whilst Cardano settled at the $0.17 level with very little movement either way. Ethereum Classic saw some positive movement to settle at the $17 level – an increase of 2% whilst other coins such as Dash and Ontology showed increases of around 3-4% to settle at the $260 and $3.55 levels respectively. ICX was also up by around 2% to the $1.36 level whilst VET started its recovery after its fork and was up 3% to the $0.02 level. After having had an excellent Wednesday with a 10% increase, TRON was also up on Thursday at press time with a 2% increase to the $0.038 level.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

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